Cattle Futures Rise to Record Highs

Market Boosted by Sagging Feed Costs, Jump in Beef Prices

U.S. live-cattle futures ended Tuesday at all-time peaks, lifted by sagging feed costs, which can encourage people who raise and feed cattle to bid more aggressively for a shrinking herd of available animals.

The cattle market has also been underpinned by a jump in wholesale beef prices, seen by some as a sign of steady demand for the red meat.